Ethereum Price Bullish Momentum Reignites – Can Bulls Pust ETH To $2,200?

Ethereum value remained robust and began a contemporary enhance above $2,000. ETH may proceed to rise if it clears the $2,075 resistance zone.

• Ethereum is once more transferring increased above the $2,000 assist zone.
• The worth is buying and selling above $2,000 and the 100-hourly Easy Transferring Common.
• There’s a key bullish development line forming with assist close to $2,046 on the hourly chart of ETH/USD (knowledge feed through Kraken).
• The pair may speed up increased if it clears the $2,075 resistance zone within the close to time period.

Ethereum Value Reclaims $2K

After a draw back correction, Ethereum value discovered assist close to the $1,920 zone. ETH traded as little as $1,933 and lately began a contemporary enhance like Bitcoin. There was a transparent transfer above the $1,950 and $1,975 resistance ranges.

There was a detailed above the 50% Fib retracement degree of the downward transfer from the $2,118 swing excessive to the $1,933 low. Lastly, it settled above the primary $2,000 resistance zone.

Ethereum is now buying and selling above $2,000 and the 100-hourly Easy Transferring Common. There may be additionally a key bullish development line forming with assist close to $2,046 on the hourly chart of ETH/USD. Fast resistance is close to the $2,075 zone. It’s near the 76.4% Fib retracement degree of the downward transfer from the $2,118 swing excessive to the $1,933 low.

Supply: ETHUSD on TradingView.com

The following main resistance sits at $2,120. A detailed above the $2,120 resistance may begin one other robust enhance. The primary resistance is close to $2,150, above which the value may purpose for a transfer towards the $2,200 degree. Any extra positive factors may begin a wave towards the $2,250 degree.

Extra Losses in ETH?

If Ethereum fails to clear the $2,075 resistance or the $2,120 pivot degree, it may begin a contemporary decline. Preliminary assist on the draw back is close to the $2,045 degree or the development line.

The following key assist is $2,025 or the 100-hourly Easy Transferring Common. The principle assist is $2,000. A draw back break under the $2,000 assist would possibly begin a gradual decline. Within the said case, Ether may drop towards the $1,920 assist zone within the close to time period. Any extra losses would possibly name for a drop towards the $1,850 degree.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is shedding momentum within the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 degree.

Main Help Degree – $2,025

Main Resistance Degree – $2,120